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About Herbert Smith Freehills

As one of the world’s leading law firms, we advise many of the largest and most ambitious organisations across all major regions of the globe. With over 5,000 people, including 3,100 lawyers and over 2,000 business services professionals, operating from our global network of offices across Asia Pacific, Europe, the Middle East and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice.

We recognise that the success of our business and our clients relies on the skills, knowledge and ideas of all our people. Our environment is one in which high performance is expected, in return, we will provide you with rewards and opportunities tailored to your personal and professional goals.

The Opportunity

Key Internal Relationships:

• Head of Partner Finance, Tax Processes & Controls, Tax Reporting Manager, Tax and Partner Finance Adviser, London and regional Business Finance teams, UK tax team, Partner Finance team, International tax team.

Key External Relationships:

• Deloitte London

Primary Responsibilities:

• Managing the end to end Year End, annual Tax reserving and partnership tax return processes. Working with the Head of Partner Finance, Tax Processes & Controls on various Tax Reporting and controls matters (detailed below)

Key Responsibilities:

Year End

• Facilitating the full year end process for the Tax and Partner Finance team, encompassing:
• Planning and managing deadlines throughout the process, taking into consideration external pressures and readjusting as necessary
• Streamlining existing Excel schedules to maximise efficiencies
• Allocation of accounting profits to relevant jurisdictions and partner groups
• Calculation of firm Profit Per Point and valve adjustment as between Australia and the Rest of the World
• Calculation of partner tax reserves, for every partner in every jurisdiction in which they are required, including adjustments for local tax requirements, and bespoke partner arrangements
• Calculation of tax equalisation adjustments where necessary, including how those adjustments should be shared among partner groups
• Subsidy analysis to determine the relative contribution to the firm's finances as between different partner cohorts
• Liaising with the firm's auditors to address queries in relation to the firm's tax affairs, in order to facilitate the firm's annual accounts sign off
• Preparation of tax disclosure notes to the accounts and calculation of deferred tax, and
• Calculation of interest due to partners in relation to the tax reserves held on transitional year profits

Tax Compliance management

Including, but not limited to:

• Preparation of the detailed analysis required to complete the firm's UK Partnership Tax return
• Calculation of the adjusted Market Allowance for partners in relevant jurisdictions such as China
• Tracking IFRS adjustments by partner and the tax provided thereon
• Assisting the Tax Reporting Senior Adviser with preparation of the UK tax computation analysis for large partnerships including HSF LLP, HSF South Africa LLP, HSF New York LLP, HSF Spain LLP and HSF Paris LLP, and
• Facilitating the payment of Corporation Tax payments in relation to the UK Service Company and providing relevant and timely information to Deloitte for the preparation of the CT return.

Modelling

• Working with the Head of Partner Finance, Tax Processes & Controls to build models in respect of (but not limited to)
• Firm-wide funding
• Structural tax changes
• Profit allocation
• Intra entity profit flows
• Effective tax rate estimates.
• Tax Processes & controls
• Working with the Head of Partner Finance, Tax Processes & Controls on the selection and implementation of technology solutions which will add efficiency and control to existing processes
• Drafting and maintaining a roles & responsibilities matrix for global T&PF team, including ensuring buy-in from the appropriate personnel
• Drafting and maintaining the risk & controls matrix for global direct and indirect taxes
• Supporting the Head of Partner Finance, Tax Processes & Controls with requests for information from tax authorities and internal audit team in the case of an audit or review
• Working with the Head of Partner Finance, Tax Processes & Controls to conduct annual controls testing, and
• Taking the lead on governance analysis associated with HMRC BRR+ and ATO Top 500 reviews, to ensure the firm retains a favourable relationship with relevant tax authorities, thereby maximising outcomes for the firm and its partners.

Tax Reserves

• Development, maintenance and reconciliation of detailed tax records and ledgers, with responsibilities including but not limited to:
• producing annual tax reserve statements for partners
• monthly reconciliations of the firm's tax payment ledgers and corresponding with overseas offices to ensure payments are swept back to London on a quarterly basis
• Supporting the Senior Tax Reporting Adviser on the ongoing review of historic tax reserves for HSF Partners, which will include a reconciliation of payments against reserves on a Partner by Partner basis, spanning several financial years and various jurisdictions.

Other

• Managing the annual budget process for the Tax and Partner Finance team (a critical part of the Business Finance function of the firm);
• Preparation of Senior Accounting Officer report for the CFO
• Providing adhoc support to the Tax & Partner Finance team, and
• Working with the Head of Partner Finance, Tax Processes & Controls on other tax projects that arise from time to time.
• Key Performance Indicators:
• Proactive management of Tax Reporting, Processes & controls obligations for the firm;
• Maintenance of accurate and clear data and reconciliations
• Proactive and clear communication of information to relevant stakeholders
• Effective identification and management of compliance obligations and deadlines
• Maintenance of accurate and clear data and reconciliations

Qualifications, skills and experience:

• At least four years' experience in a tax or finance role in either a large professional partnership or a corporate environment.
• It is essential that the successful candidate has have an initial tax, accounting or law qualification (ATT, ACCA, ACA).
• The candidate should also hold a further (higher) tax qualification, i.e. Chartered Tax Adviser (CTA), Associate Diploma in International Tax (ADIT), or Master of Taxation. We would consider candidates without a higher tax qualification on the expectation that they will obtain those qualifications at the earliest opportunity.
• Comprehension of basic accounting and journal entries (i.e. strong knowledge of double-entry bookkeeping)
• Advanced Excel skills

Team

Working Pattern

Location

Contract type

Diversity & Inclusion

At Herbert Smith Freehills you will be part of a diverse, innovative culture where high performance, client focus and highly engaged people are our differentiator. People at our firm come from a range of backgrounds and bring a wide variety of experiences and perspectives to their work with us. We strive to ensure that our inclusive environment means you feel valued and able to perform at your best by being your authentic self at work. We know that our future success not only depends on being innovative and progressive in the changing legal market but, most importantly, on our people feeling highly engaged in meaningful work.

We understand that you have commitments and personal interests outside of work and we strive to create a working environment based on mutual trust and respect, in which you can perform at your best whilst maintaining sustainable balance across your life.